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Bryan J. Lima

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Top Stories by Bryan J. Lima

It appears that Fannie Mae and Freddie Mac have decided to expand the type of properties available for the refinancing through the Homeowner Affordability and Stability Plan. This is great news for borrowers, especially current owners of second homes and multiple family (one to four units) dwellings. Originally, we heard that this program would only apply to owner-occupied primary residences. The following article goes into more detail of the new rules of the program recently released by Fannie Mae and Freddie Mac to all participating lenders. Read more See below for related posts: Homeowner Affordability and Stability Plan - Part II Homeowner Affordability and Stability Plan Should you refinance your current mortgage now? Read more Click here for current mortgage rates. ... (more)

Is now the right time to buy?

I'm sure there are many people asking the question, "Is now the right time to buy?". Nobody really knows for sure. However, there are some facts that you can look at to help evaluate whether or not now is the right time to buy. For one, mortgage rates are currently close to the lowest they've been in almost 50 years. In addition, home prices are low and probably close to the bottom. There may be a little more ways to go, but I think we're close. With the Spring homebuying season upon us, we may see an increase in sellers in the market, which will increase inventory and possible p... (more)

Bergen County, NJ Real Estate Market

Real Estate on Ulitzer New Jersey's high cost of living makes it very difficult to purchase a home. Bergen County, NJ is the highest among all markets in homeownership affordability and also happens to be the most populous county in NJ. The median home price in Bergen County is $481,250. According to a 2007 estimate by the US Census Bureau, the median income of a family is just shy of $97,000. If you assume that not more than 28% of the household income should be used for the mortgage payment, that would mean that it should not be higher than $2,263 per month. Based on today's m... (more)

Bryan J. Lima Earns NAR Short Sales and Foreclosure Certification

FOR IMMEDIATE RELEASE: Contact: Bryan J. Lima DeFino Realtors (201) 970-6857 homes@bryanlima.com http://www.bryanlima.com/ Bryan J. Lima Earns NAR Short Sales and Foreclosure Certification Buyers and Sellers Benefit from REALTOR® Expertise in Distressed Sales April 2, 2010 (Wyckoff, NJ) — Bryan J. Lima with DeFino Realtors has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for ... (more)

Happy 4th of July from Bryan J. Lima

July is upon us and the summer market is now in full swing.  Interest rates are at historic lows and it’s a great opportunity for first-time homebuyers to enter the market.  The First-Time Homebuyer Tax Credit has already ended, but if you were under contract by April 30th of this year then you now have until September 30th to close.  This date was recently extended from the original date of June 30th. I would like to wish all of you a very safe and Happy 4th of July with your family and friends.   If you or somebody you know is looking to move or sell their home, please have ... (more)